Asia's Debt Capital Markets: Prospects and Strategies for by Douglas W. Arner, Jae-Ha Park, Paul Lejot, Qiao Liu

By Douglas W. Arner, Jae-Ha Park, Paul Lejot, Qiao Liu

This quantity includes reviews by way of best examine students within the usa and Asia on Asia’s debt capital markets. The publication is exclusive in drawing upon the examine, adventure and views of specialists from the tutorial, felony, governmental and useful funding fields. They verify the dangers and possibilities, and methods for constructing those markets. The authors undertake a multidisciplinary process, encompassing economics, finance and legislations.

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Asia's Debt Capital Markets: Prospects and Strategies for Development (The Milken Institute Series on Financial Innovation and Economic Growth)

This quantity contains experiences through best examine students within the usa and Asia on Asia’s debt capital markets. The e-book is exclusive in drawing upon the learn, event and views of specialists from the educational, felony, governmental and sensible funding fields. They verify the hazards and possibilities, and techniques for constructing those markets.

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Extra info for Asia's Debt Capital Markets: Prospects and Strategies for Development (The Milken Institute Series on Financial Innovation and Economic Growth)

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Unlike many other Asian economies, government bonds are not listed on the main stock exchange. Instead, there is a network of 11 market-makers or primary dealers in Singapore Govenmient Securities. The Taiwanese secondary bond market is focused on the GreTai Securities Market (GTSM), Taiwan's second largest securities exchange that is largely over-the-coimter. Unlike the Taipei Stock Exchange, the GTSM allows over-the-counter trading. The Thai Bond Dealing Center was established in 1998 as that country's bond exchange and information dissemination center.

2004. ," NBER Working Papers 10576, National Bureau of Economic Research, June. Eichengreen, Barry. 2004. "The Unintended Consequences of the Asian Bond Fund," unpublished manuscript. University of California, Berkeley, February. Giddy, H. Ian. 2001. "Financial Institution Risk Management: The Impact of Securitization," presented at the seminar on Risk Management in Financial Institutions, Sogang University, Seoul, October 2001 Greenspan, Alen. C. September 27th. Hausler, Gerd, Donald J. Mathieson and Jorge Roldos.

3. Irregular Benchmark Bond Issuances The lack of high-quality, large and regular bond issuances is another major impediment to the development of this market. Though excessive issuance of goverrmient securities can lead to "crowding out" of private borrowing, insufficient goverrmient securities issuance can lead to the lack of a benchmark yield curve. The existence of a goverrmient securities yield curve and based upon risk-free interest rates is essential to the efficient pricing of riskier bonds, including corporate debt.

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